International Conveyors Ltd Acquires Equity Shares of Religare Enterprise Limited
International Conveyors Limited announced the acquisition of equity shares in Religare Enterprise Limited. The acquisition was intended for investment purposes.The details of the acquisition indicate that the total consideration paid was 3.13 Crore. The purchase involved 1,40,000 equity shares.
The following table outlines key details regarding the target entity and the transaction structure.
| Particulars | Details |
|---|---|
| Target Entity Name | Religare Enterprise Limited |
| Target Entity Turnover (FY 2024-25) | 7354.236 Cr |
| Acquisition Nature | Cash Consideration |
| Indicative Completion Period | April 09, 2026 |
| Relationship | No related party transaction identified |
Overview of Religare Enterprise Limited
Religare Enterprise Limited (REL) functions as the holding company for a leading diversified financial services group in India. The services offered by REL through its subsidiaries and operating entities include loans to SMEs, Affordable Housing Finance, Health Insurance, and Capital Markets.The company's turnover for the last three financial years, provided in crores of Rupees (Rs. in Cr.), is detailed below:
| Financial Year | Turnover (Rs. in Cr.) |
|---|---|
| F.Y. 23-24 | 6234.786 |
| F.Y. 22-23 | 4676.456 |
Religare Enterprise Limited has its presence in the country of India.
INTLCONV Stock Price Movement
International Conveyors Limited shares today slipped by 0.63% to settle at ₹72.94 in after-hours trading. The stock was accompanied by a total volume of 63,159 shares as the market concluded for the day.Source:
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